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The GEOGLAM Crop Monitor for November 2024 rates conditions as of October 28 as favourable for maize, rice and soybeans, and mixed for wheat. It reports exceptional maize and soybean conditions in the US, with poor soybean conditions in Ukraine and Russia.
Strong US crop conditions point to ample supply and bearish pressure on corn and soybeans, while poor Black Sea soybean conditions offer limited offset.
cropmonitor.orgNov 7, 2024After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
